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New norms for T+2

Mumbai, Mar 12: The Securities and Exchange Board of India (Sebi) has assigned a revised risk management mechanism that includes assorting scrips into three groups for risk margins under T+2 rolling settlement cycle with effect from April 1, 2003.

The existing 12 per cent additional margins would be reduced to 6 per cent from April 1.

The additional margins would be phased out further on implementation of advance collection of value at risk-based margins, Sebi said in a notification to the exchanges.

The market regulator said the risk containment measures for the scrips would be based on their volatility and liquidity.

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